Employees’ contribution to PF deposited before filing of return is allowable deduction

PCIT Vs Tv Today Network Ltd. (Delhi High Court)

Held that disallowance u/s 36(1)(va) unsustainable as the amount of employees’ contribution to the provident fund deposited before filing of return.

Facts-

AO made disallowance under the head ‘consumption debtors’; disallowance on account of late deposits of employees contribution to provident fund u/s 36(1)(va) of the Act and disallowance under the head of section 14A read with rule 8D.

CIT(A) deleted t

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